Tuesday, July 3, 2012

Breaking News Tues. July 3, 2012

Well, Andy Griffith has passed away at 86 years of age.
Rest in peace sheriff Taylor.

Much thanks to RJ at the Global Glass Onion and the Ozarker at Conflicted Doomer , and to Doug at 3Es News and David at ETF Daily, for their help today!
Please check out their sites and support their work and don't forget to visit the forums linked at the bottom of this page.

Peak Oil and Energy News
Star-Telegram: Drilling trucks have caused an estimated $2 billion in damage to Texas roadsFederal budget cuts could hit energy companies
Reuters: UPDATE 2-Exxon considers oil/gas exploration in Afghanistan

SFGate: PG&E rate plan would cost 15.6% more typically
Philly.com: At Trainer refinery, workers prepare for jet-fuel production

Reuters: Oil up sharply on supply fears, stimulus hope
FP: Brent tops $100 on Iran tensions, stimulus hopes

TAE: Unconventional Oil is NOT a Game Changer 
Guardian: We were wrong on peak oil. There's enough to fry us all 

Global Conflict
MSNBC: US sends ships, planes to Persian Gulf as tension mounts
Senior Defense Department official says the message to Iran is ‘Don’t even think about it’ 
Reuters: Syrian army attacks rebels, Turkey scrambles F16s

WSJ: US Apologizes to Pakistan, Says Supply Routes to Reopen 

CBSNews: Officials: Iranians sought US targets in Keny
SeattlePI: Report: Assad regrets shooting down Turkish jet

SeattlePI: Turkey hosts Iran nuclear talks
Reuters: Arabs, Turkey urge Syrian opposition to unite 
Reuters: Insight: "Green Fleet" sails, meets stiff headwinds in Congress

VOA: HRW Report: Syria Has 'Archipelago' of Torture Centers
Haaretz: Human Rights Watch report reveals widespread torture in Syria
Reuters: Iran says it test-fires missiles in war of nerves
BlacklistedNews: U.S. Sends Large Number of Warships and Planes to Persian Gulf

CBSNews: Iran tests missiles, talks Hormuz closure 
Reuters: Pakistan: closure of NATO routes into Afghanistan harms US ties
Counterpunch: Mexico’s Return to “Perfect Dictatorship”
SeattlePI: Iraq bombs, market attacks leave 33 dead

WSJ: DA Gets to See Occupy Tweets
BehindTheWall: Protesters defy stun grenades to halt construction of $1.6 billion factory in China
Reuters: China city scraps alloy plant after protests

TruthDig: Time to Get Crazy - By Chris Hedges - Native Americans’ resistance to the westward expansion of Europeans took two forms. One was violence. The other was accommodation. Neither worked. Their land was stolen, their communities were decimated, their women and children were gunned down and the environment was ravaged. There was no legal recourse. There was no justice. There never is for the oppressed. And as we face similar forces of predatory, unchecked corporate power intent on ruthless exploitation and stripping us of legal and physical protection, we must confront how we will respond.

Domestic Financial News
LAT: Microsoft to take $6.2-billion charge for online ad business
JOC: Manufacturing Index Contracts in June

NPR: 'This Is Not Good': Factories Show Signs Of Slowing
ChicagoTribune: Munis face $2 trillion in unfunded pension costs - U.S. states and localities have run up more than $2 trillion of unfunded pension liabilities, Moody's Investors Service said on Monday, citing data on plans offered by 8,500 local governments and over 14,000 individual entities. Wall Street credit agency said that according to its estimate, the total liabilities for fiscal 2010 were more than three times the amount reported by local governments.

Zerohedge: On Lie-borgate: "Everyone Knew, And Everyone Was Doing It … "I wish I could say that this was an isolated case... You will hear more on this in due course" is how the UK FSE's Director of enforcement described Lie-borgate to Reuters this weekend.
CNN: How long does bankruptcy affect credit scores?

Telegraph: US manufacturing contraction feeds fear of global slowdown  - America’s manufacturing sector has contracted for the first time in almost three years, raising the spectre of the world’s major economic centres suffering a simultaneous slowdown.

CNBC: US Economy May Be Bottoming Out: Economist
A surprise contraction in U.S. manufacturing activity in June has raised the prospects of a worsening slowdown in the U.S., but one economist says the economy may actually be showing signs of bottoming out.
ETFDaily: Are the Rich Smarter Than You?

CNBC: Boeing Hikes 20-Year Market Forecast 
Reuters: Hawker Beechcraft files restructuring plan

WSJ: Barclays CEO Robert Diamond Resigns
CNNMoney: IMF warns on U.S. economy

BusinessInsider: Markets Quietly Rally, Dow Up 70, Spain Up 0.9%
Businessweek: The IPO Market Closed After Facebook. That's a Good Thing

think about this next one. LOL Kind of sums our current financial and economic world up nicely I think. Symbolically that is.
Businessweek: The Lucrative Business of Fake, Life-Size Dinosaurs 
DailyFinance: Avoiding Job Scams: How Not to Fall Victim to the Con Artists

CalculatedRisk: Trulia: Asking House Prices increased in June
CharlesHughSmith: Dear Person Seeking a Job: Why I Can't Hire You 

CNN: Barclays not alone in rate-fixing scandal 
FT: Does a Flurry of Deals Mean Mergers Are Back? 

DailyFinance: Can't Afford a Vacation Now? Sears Says Put a Getaway on Layaway 
ETFDaily: Why The S&P 500 Index Could Be Closing In On A Market Top (SPY, SPXU, SH, SDS, INDEXSP:.INX) 

SeekingAlpha: Has Bank Of America Finally Hit Bottom? 
Minyanville: The Overhang Theory: How to Live Below Your Means 

Mish: Airbus to Assemble Jets in Mobile, Alabama; Start of a Global Labor War? 
USAToday: Retailers see Fourth of July spending fizzle 

Zerohedge: Liars, Crooks and Thieves | Fraudclosure - Another Accidentally Leaked Email, This Time by Albertelli Law and Wells Fargo

Global Financial News

NYT: Europe’s Great Illusion 
Over the past few months I’ve read a number of optimistic assessments of the prospects for Europe. Oddly, however, none of these assessments argue that Europe’s German-dictated formula of redemption through suffering has any chance of working. Instead, the case for optimism is that failure — in particular, a breakup of the euro — would be a disaster for everyone, including the Germans, and that in the end this prospect will induce European leaders to do whatever it takes to save the situation.
CNN: Chinese banks' profits soar amid euro crisis

Reuters: Special Report: Crisis forces "dismal science" to get real 
Spiegel: 'Fear and Uncertainty' The Euro Endangers German Economy
Bloomberg: Peugeot to Raise French Workforce Cuts to 10,000, Union SaysCharlesHughSmith: Sorry, Bucko, Europe Is Still in a Death Spiral
Boston.com: Eurozone unemployment hits new record in MayFinancialPost: Slovenia in line for sixth euro bailout: economists

Reuters: France cuts growth forecasts, prepares for cuts
Zerohedge: Not So Fast: Finland And Holland Will Block ESM Bond Buying 

Businessweek: Hollande Emerges as Leader at EU Summit - BLM video - France's new president Francois Hollande left his mark at the EU Summit in Brussels

HispanicBusiness: No Winners or Losers in EU Summit Clash
FT: The real victor in Brussels was Merkel

Businessweek: Spain’s Waning Reserve Fund Risks Undermining Bonds: Euro Credit

CommodityOnline: Surge in Gold Silver Ratio may bring more Silver into jewellery
CommodityOnline: Gold markets mixed amidst slight upward movement in prices

Cryptogon: Japan Finds Large Deposit of Rare Earth Minerals
Mineweb: Deadly fire at Gold Fields' South Africa mine still burning

M 4.2, 32km WSW of Manzanillo, Mexico
M 4.8, 68km SW of Yonakuni, Japan

DesdemonaDespair: The dam boom in the Amazon
CNN: 4 killed in crash of military air tanker

Yahoo: Eastern U.S. swelters with heat wave, power outages
SeattleTimes: This US summer is 'what global warming looks like'

If you want a glimpse of some of the worst of global warming, scientists suggest taking a look at U.S. weather in recent weeks.

CBSNews: Anger festers in sweltering mid-Atlantic
Reuters: More than 2,000 heat records matched or broken

Counterpunch: Wildfires: Myths and Realities 
DesdemonaDespair: Image of the Day: Satellite View of Wildfires in Siberia, 29 June 2012

Businessweek: More than 342000 outages remain in W.Va.
Businessweek: Storms Leave 1.37 Million Without Power in Mid-Atlantic
CSMonitor: Why has 2012 been the hottest year on record in the US?

MSNBC: Solar fireworks might be heading our way for the 4th

ClimateCentral: Media Heats Up with Coverage of Extreme Weather
Climatecrocks: “This is a view of the Future. So Watch Out!” – Kevin Trenberth on PBS NewsHour

CBSNews: Great white shark sighting closes popular beach 
DesdemonaDespair: Scientists conclude rise in sea level cannot be stopped 

EarlyWarning: European Drought Map
ENENews: Japanese Nuclear Expert: Containment vessel at Reactor No. 2 likely seriously damaged by quake on 3/11
McClatchy: Alaska couple finds Japanese boat from tsunami

EnergyBulletin: We are all ‘Climate Test Dummies’ now, providing data on how humans respond to extreme weather
Guardian: Oh Canada: the government's broad assault on the environment

America in Decline
CBSNews: Another Calif. city votes to file for bankruptcy 
CNN: Rents keep climbing 

Reuters: Insight: Florida man sees "cruel" face of U.S. justice 
 Davis was convicted of participating in a string of armed robberies in the Miami area in 2010. His accomplices testified against him, saying he carried a gun during their crimes and discharged it at a dog that chased them after one of their burglaries. But Davis was not convicted of hurting anyone physically, including the dog.

Davis would occupy no place at all in the annals of crime if not for his sentence. Now 20 years old, he was sentenced to 1,941 months - almost 162 years - in prison without the possibility of parole.
Rawstory: Mullen: 18 veterans kill themselves every day in the U.S.

MarginalRevolution: More on Debtor’s Prisons - In my post Debtor’s Prison for Failure to Pay for Your Own Trial I wrote: Debtor’s prisons are supposed to be illegal in the United States but today poor people who fail to pay even small criminal justice fees are routinely being imprisoned. The problem has gotten worse recently because strapped states have dramatically increased the number of criminal justice fees. The New York Times is now on the case and gives an example: Three years ago, Gina Ray, who is now 31 and unemployed, was fined $179 for speeding. She failed to show up at court (she says the ticket bore the wrong date), so her license was revoked. When she was next pulled over, she was, of course, driving without a license. By then her fees added up to more than $1,500. Unable to pay, she was handed over to a private probation company and jailed — charged an additional fee for each day behind bars. For that driving offense, Ms. Ray has been locked up three times for a total of 40 days and owes $3,170, much of it to the probation company.
BaselineScenario: Pure Spite -- In my Atlantic column on Thursday, I wrote the following about the Roberts Court’s decision to allow states to opt out of Medicaid expansion without losing their existing Medicaid funding: “What we are going to see is Republican-controlled state governments refusing to expand Medicaid out of bitter hatred toward President Obama and spite for the working poor who need access to health care.” For those who aren’t up to speed, the deal is basically this. Medicaid is administered by states (which often outsource it to third parties), but the federal government sets certain minimum coverage requirements that states must meet in order to receive federal funding. Those requirements are pretty low, states can choose not to cover able-bodied adults without children, regardless of their income. The Affordable Care Act required states to dramatically increase their Medicaid coverage, with the federal government kicking in 90 percent of the additional funding required (100 percent in the early years).

Alternet: Corporate Profits at All-Time High; Wages at All-Time Low: Can We Call it Class War Yet? 

Prospect: Where Work Disappears and Dreams Die: Not all teenagers are as lucky as J’Len Glass. He trusts his parents. He knows they will always tell it to him straight. Yet the 15-year-old, who wants to be a doctor, can’t help being skeptical of his elders’ veracity—or at least of their memories—when they tell him that his shrinking, economically depressed hometown of Gary, Indiana—Steel City—was, once upon a time, a wonderful place to raise a family.

Food and Water
CivilEats: A Calorie, is a Calorie, is a Calorie. Or is it? 
CommodityOnline: India's Wheat procurement touches 37 85 million tons
Guardian: Food prices could rocket as US harvest continues to wilt in blistering heat 

McClatchy: Fewer workers cross border, creating U.S. farm labor shortage 
MyBudget360: The financial benefits of food stamps – Record $78 billion worth of food stamps issued in 2011. Select Wal-Mart stores pulled in 25 to 40 percent in revenues from food stamps according to a recent analysis.

NYT: Small Farmers Creating a New Business Model as Agriculture Goes Local
FT: Heatwave threatens US grain harvest 

Privacy News
BlacklistedNews: U.S. police behind most requests for Twitter information
CBSNews: Drone makers pledge to respect privacy

Science and Technology
NPR: Is The Hunt For The 'God Particle' Finally Over?
 I think the Ozarker could be right about this one, they're training our replacements. LOL
Cosmiclog: Growing up with tech makes young bonobos language-savvy
Cryptogon: France Considering Making Those Who Own A Computer Screen But No Television Pay Up
Guardian: What is the Higgs boson? - video 
NYT: Megaupload Founder Goes From Arrest to Cult Hero 

Phys.org: Anti-aging elixir for solar cells

Medical and Health
Bottomline; GlaxoSmithKline settles fraud case for $3 billion 
CNN: Triple-digit strategies for staying healthy
Vitals: Coffee may help protect against skin cancer

USAToday: Meet the health care 'thing' that is a tax
Businessweek: In the War Against Smoking, America Is on the Wrong Side 

USAToday: FDA approves first rapid, take home HIV test

Doomsteading, Gardening, Urban Farming
ResilientCommunities: Here’s Why I Don’t Worry About Storms and Power Outages Anymore 
Heat Exhaustion

PeakPRosperity: How to Build an Earthen Oven 
PopSci: A Wood-Burning Camp Stove That Doubles As A Gadget Charger 

PreppingToSurvive: A Homemade Cure for Dehydration 
PreppingToSurvive: Signs of Dehydration

Other News
CNN: Purported e-mails suggest Paterno may have altered decision not to report abuse
BBC: Mexico's Obrador refuses to admit defeat 

MTV: Actor Andy Griffith Dead At 86
CNN: 'Redneck Resort' offers fun in the mud - The "Redneck Resort Mud Park" in Tennessee promises a good time for those who don't mind getting dirty. WVLT reports.

SFGate: ICE agent stable after being shot in South Texas

ABCNews: RNC chair: The individual mandate isn't a tax, but the GOP will call it one anyway
CNN: Can Republicans repeal Obamacare?
MSNBC: Could health care ruling help Republicans win big?

MSNBC: More clues emerge in veepstakes
CBSNews: Could Kelly Ayotte be Romney's running mate?
NYT: Supreme Court Memo: After Ruling, Roberts Makes Getaway From the Scorn

TinfoilPalace: We're So Fucked
TinfoilPalace: Revealed: the scale of sexual abuse by police officers

TheOilAge: Epistle to the Ecotopians
TheOilAge: ummm...NASA does not want us to see the sun today...

HubbertsArms: Qatar: A tiny country asserts powerful influence
HubbertsArms: Sanctions in FULL FORCE on Iran

SilCo: What the hell was JPMorgan all about?
SilCo: We are a sick society when

DestinyCalls: Strange Earth Noises (article from 1984, "Unexplained" magazine)
DestinyCalls: Interesting page on Irish Druids

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